• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

US Banks Battered On Spain's Bailout Approval

Tyler Durden's picture


From the mysterious pre-Summit ramp in the afternoon of 6/28, the major US financials managed gains from 6 to 11% within a few days. As reality sets in and that sinking feeling rears its ugly head, so one-by-one, all that exuberance has faded. While the financial ETF XLF remains higher, the major US financials are considerably lower with BofA -6%, MS -5%, and JPM -3% from those pre-Summit levels...

It seems buy the rumor, sell the news was the game...

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Fri, 07/20/2012 - 10:29 | 2635990 The Axe
The Axe's picture

crazy   i know....but the market still acts good, considering all this shit

Fri, 07/20/2012 - 10:38 | 2636036 otto skorzeny
otto skorzeny's picture

green by the bell

Fri, 07/20/2012 - 10:45 | 2636072 Dr. Engali
Dr. Engali's picture

People are buying companies that actually produce something so at least they have some wealth left after the dollar collapse.

Fri, 07/20/2012 - 11:37 | 2636313 CClarity
CClarity's picture

Just a thought - - - could it be that Morgan Stanley actually reports earnings (and losses)?  Where the other financial institutions play with a lot of shuffling decks, a little of this, a reassignment of that, no mark to market?  Kinda like CNBC now lamenting the falling Euro and how it will hurt the US with a strengthening US$ . . . making commodities prices in US$ more dear.  But a stronger US$ also means purchasing power remains intact versus constantly degrading the same.  

Not all is what is seems.


Fri, 07/20/2012 - 10:29 | 2635991 Clueless Economist
Clueless Economist's picture

Cramer was going to mention the banks tonight, but he called out sick...indegestion from Chipolte's earnings and diarreaha from Chipolte's food.

Fri, 07/20/2012 - 10:42 | 2636054 Carl Spackler
Carl Spackler's picture

Has cramer also had insomnia and night sweats from worrying that everyone is on to his charade and lies?

Or is Cramer just an amoral twit?

Fri, 07/20/2012 - 10:45 | 2636078 fonzannoon
fonzannoon's picture

can't I choose both?

Fri, 07/20/2012 - 11:01 | 2636145 TonyCoitus
TonyCoitus's picture

I can't stand that fucking blabermouth moron.  When I'm channel surfing, I can't flip past that ass hole fast enough......the show is like watching big time wrestling.......only for the brain dead.

Fri, 07/20/2012 - 21:46 | 2638209 Bringin It
Bringin It's picture

Tony - work with me here.  The irony of your post is astounding - ...only for the brain dead. ???  Tony, that would be you.  The whole damn TV is ...only for the brain dead.  Put the remote down.  Pick up your big screen and drop it out the window. 

[Anyone living in a hi-rise will need to check first to warn away anyone in the landing zone.  People will applaud you.  Letterman used to get a lot of laughs with similar.]

They are molding the inside of your cranium and you are openning the door, inviting them in.  Astounding.

Fri, 07/20/2012 - 10:35 | 2636020 Snakeeyes
Snakeeyes's picture

Bailouts are expensive and not productive. Just a massive dumping of money down the toilet.

Euro and Iggy Pop (Italy, Greece and Spain) yields jumped. Nice bailout!


Fri, 07/20/2012 - 10:35 | 2636022 magpie
magpie's picture

They should start shoring things up now so they can crash again next week.

Fri, 07/20/2012 - 10:35 | 2636026 AccreditedEYE
AccreditedEYE's picture

If the financials die a slow death, and the market isn't listening, does it make a difference? (sound)

Fri, 07/20/2012 - 10:39 | 2636037 RobotTrader
RobotTrader's picture

KRE is unfazed.


Regional banks are now the powerhouses.

Now sitting on its 50-day EMA


The big banks and investment banks are too big and too slow and have targets on their backs.

Fri, 07/20/2012 - 10:42 | 2636057 pods
pods's picture

So would you call CMG fazed?


Fri, 07/20/2012 - 10:44 | 2636068 Quinvarius
Quinvarius's picture

KRE is down today.

Fri, 07/20/2012 - 10:48 | 2636070 AccreditedEYE
AccreditedEYE's picture

i keep sayin' it... power is moving away from the old names: GS, MS, C, BAC  to the NEW names: BX, KKR, APO. "Ownership" is replacing "transaction". Certainly fits in a world of declining fiat and scramble for hard assets.

Fri, 07/20/2012 - 11:07 | 2636178 Vincent Vega
Vincent Vega's picture

"Regional banks are now the powerhouses." Yes, especially love the 5 yr charts on STI (90 to 23) and RF (37 to 6). Looking just a bit fazed.

Fri, 07/20/2012 - 10:43 | 2636060 Jlmadyson
Jlmadyson's picture

BoFA back to 4.99 soon enough.

Fri, 07/20/2012 - 10:43 | 2636066 Miss Expectations
Miss Expectations's picture

As speculation mounts about the motive behind the mass shooting, one private investigator has claimed that Holmes may have been part of Occupy Wall Street's most violent faction Occupy Black Bloc.

Bill Warner told how the Batman movie portrays the OWS crowd in a negative vein, leading him to believe that may have been a cause behind the shooting.

Read more: http://www.dailymail.co.uk/news/article-2176495/Explosion-booby-trapped-apartment-lone-gunman-James-Holmes-24-killed-12-midnight-Batman-premier-Denver.html#ixzz21AqxXiFB

Fri, 07/20/2012 - 11:11 | 2636171 writingsonthewall
writingsonthewall's picture

Do you work for the Government? ^^



...oh wait - I just saw your source - you're just a normal moron sheeperson.


You demonstrated your ignorance by not knowing what a black bloc is - just as the Daily mail did too.


I've been in a black bloc - there is no violence against citizens.

Fri, 07/20/2012 - 11:23 | 2636245 Miss Expectations
Miss Expectations's picture

I want to tell you to fuck off because my point was how quickly they are blaming the WRONG people.

Fri, 07/20/2012 - 10:47 | 2636090 Ted Baker
Ted Baker's picture


Fri, 07/20/2012 - 10:47 | 2636091 Hype Alert
Hype Alert's picture

Is volume weird?  I'm showing a pickup in volume on the DOW & S&P, but my individual stocks are pretty low.  Have all the individual investors been scalped out by the algo's and the only volume left a ripple effect from the major ETF's?

Fri, 07/20/2012 - 10:52 | 2636102 Village Smithy
Village Smithy's picture

Congratulations, if you are trading individual stocks you may be an endangered species and therefore eligible for Federal funding.

Fri, 07/20/2012 - 11:56 | 2636388 q99x2
q99x2's picture

Green by the Bell.

Black by the Day.

Light by the Night.

Hell on the Way.

Where's the Limerick King when you need him.

Fri, 07/20/2012 - 15:33 | 2637449 W10321303
W10321303's picture

Be careful what you wish for?

Why the Obama Administration Will Hate Neil Barofsky’s Book “Bailout”

Having read an advance copy of former Special Inspector General of the TARP Neil Barofsky’s new book, Bailout, I am pretty confident most NC readers would enjoy it. He got to be what I call a designated asshole in his DC incarnation, not that that was the way it had to turn out. For some unfathomable reason, the Bush White House decided it wanted someone who’d take the SIGTARP role seriously in the job. And they chose a Democrat, perhaps figuring that as much as he’d be a thorn in their side, Obama would be hard pressed not to keep him on, and he’d be even more of a problem for them

Read more at http://www.nakedcapitalism.com/2012/07/why-the-obama-administration-will-hate-neil-barofskys-book-bailout.html#TztfA4drw3cPcmis.99


Fri, 07/20/2012 - 21:51 | 2638214 Bringin It
Bringin It's picture

Who's Obama and why should I care?

Do NOT follow this link or you will be banned from the site!